FRISCO, Texas, Oct. 29, 2015 (GLOBE NEWSWIRE) -- Greatbatch, Inc. (NYSE:GB), today announced results for its third quarter ended October 2, 2015.
| Three Months Ended | |||
| (Dollars in thousands, except per share data) | October 2, 2015 | October 3, 2014 | % Change |
| Sales | $ 146,637 | $ 171,699 | (15)% |
| Organic Constant Currency Sales Growth | (13)% | 1% | |
| GAAP Diluted EPS | $ — | $ 0.54 | (100)% |
| Adjusted Diluted EPS* | $ 0.58 | $ 0.75 | (23)% |
| EBITDA* | $ 14,578 | $ 29,246 | (50)% |
| Adjusted EBITDA* | $ 31,398 | $ 39,826 | (21)% |
| Adjusted EBITDA as a % Sales | 21.4% | 23.2% | |
| * Refer to Tables A and B at the end of this release for a reconciliation of adjusted amounts to GAAP. | |||
CEO Comments
“We are disappointed by our current quarter results, however we remain very optimistic about the future growth prospects of Greatbatch,” said Greatbatch president and CEO, Thomas J. Hook. “We had several discrete factors impacting our third quarter results, which do not change the long-term growth prospects of our company. We continue to drive the implementation of our strategy to create shareholder value, which includes our transformative acquisition of Lake Region Medical, as well as the spin-off of Nuvectra. The acquisition of Lake Region Medical will provide a substantially more comprehensive portfolio of technologies and services for our customers while the spin-off will provide both Greatbatch and Nuvectra with the focus and flexibility needed to execute their distinct strategies,” continued Hook.
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